Hershey’s stock has experienced a significant decline as rising costs and recent analyst downgrades weigh heavily on investor sentiment. As of the latest reports, Hershey (NYSE: HSY) saw a drop of approximately 2.9%, closing at $56.89. The company’s struggles are attributed to various factors, including inflationary pressures and supply chain challenges. Analysts have expressed caution regarding Hershey’s future performance, with JPMorgan maintaining a ‘Neutral’ rating and setting a price target of $171. This follows a trend of bearish sentiment, as the average recommendation among analysts has moved to ‘Reduce’. Commenting on the current market landscape, an analyst stated, ‘The rising costs of raw materials and the ongoing supply chain disruptions are expected to put pressure on Hershey’s profitability in the upcoming quarters.’ Investors are advised to closely monitor how Hershey adapts to these challenges and reacts to shifts in the market dynamics.
Hershey’s Stock Takes a Hit Amid Rising Costs and Analyst Downgrades
